No, I am an Agent and there was no loan

Would there be issues with the 30-year conventional bank loan itself for the 12-unit apartment since the down payment is from a HELOC?

If you have loans on these with personal guarantees that also have your name on them then your two options really are sell the assets or buy them out -Which typically if it’s contentious will require 2-3 valuations - each party should get their own and if the numbers are not close then get an independent third party and average the numbers.

- Do you plan on using Fannie/Freddie or a local bank loan?

The term syndication often is used in a multifamily/commercial or other real estate transaction, where a property is being purchased and the GP needs to raise capital (equity, often) to purchase the asset.

Understanding the strategy and terms behind offers and a P&S is where hundreds of thousands of dollars can be won or lost.

You can also usually get a conventional loan with more favorable terms if you are living in the unit for at least a year. 

It was intended as a fix and flip, and our original exit strategy was reached. we bought with hard money then did a refi to convential because repairs became drawn out and rented for some cf to by is time. we ended up selling for 405,000 and our loan balance was 235,000.

The transaction to pay the renovation guy worked fine (I provided an invoice from him to Plastiq).As Kerry Noble said above, they do seem to have "tightened up" their terms.

Looking at a strategy to Brrrr or light rehab to rent out to long term tenants.